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Automatically translated version. May contain inaccuracies compared to the original.
DraftKings went into the red despite a 15% increase in betting volume
🔹 In Q2 of 2026 the year, DraftKings' revenue fell by 5% — to $1,44 billion. Instead of last year's profit of $157,9 million, the company recorded a net loss of $67,6 million.
🔹 Meanwhile, sports betting volume rose by 15% — to $13,1 billion, and the number of paying users increased by 9% — to 3,6 million. However, sportsbook margins declined, and average monthly revenue per user fell by 13% — to $132.
🔹 DraftKings attributes the weaker financial results to player‑friendly sporting outcomes and more active customer acquisition. Marketing and sales expenses rose year‑over‑year by 38% — to $322,5 million.
🔹 Adjusted EBITDA fell by 62% — to $114,6 million. The company maintained its full‑year guidance: it expects revenue of $6,5–6,9 billion and EBITDA in the range of $700–900 million.
🔹 At the same time, DraftKings is expanding its prediction‑markets business. Since the start of the year, more than 600 thousand customers have used it, and the annual run rate of trading volume rose from $2,3 billion in April to $11 billion in July.
🔹 However, only $3,6 billion of that amount comes from external users. The remaining $7,4 billion were traded by DraftKings itself, acting as the market maker and providing platform liquidity.
🔹 Earlier, Flutter also reported a decline in U.S. revenue of 6%. Both companies attribute the worse results primarily to player‑favorable sporting outcomes and higher costs, rather than competition from prediction markets.
@sho_azartny
